The price of LUNA, the governance token of the Terra blockchain ecosystem, fell sharply on Tuesday.
, the most voluminous spot exchange for the token. LUNA has since recovered as of the time of writing and is trading hands at $14.40. Data from CoinGecko shows that LUNA was trading above $40 on Monday.
UST's gyrations have sent the algorithmic stablecoin, which relies on market incentives to maintain parity with the US dollar, as low as $0.60 on Monday before it posted a temporary recovery in that wake of that move down.
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